Goldstone Drops Ild Foray Plan

Goldstone Teleservices has dropped its plans to foray into the international long distance (ILD) telephony services.

The company has obtained a letter of intent from the Department of Telecommunications (DoT) on April 24 to enter into the ILD business.

However, the company has not fulfilled its obligations such as furnishing of Rs 25 crore bank guarantee and no dues certificate with in the stipulated period of three months, which were supposed to be completed within three months from obtaining the letter of intent.